Rupee depreciated 12 paise to 75.27 against US dollar in early trade

The rupee depreciated 12 paise into 75.27 against the US dollar in opening trade on Thursday.

The rupee opened 75.23 at the interbank forex market, then dropped earth and touched 75.27 from US dollardown 12 paise on its last close.

Forex dealers said opening in national stocks affirmed the rupee, although factors like strong dollar, foreign fund outflows and cases dragged the local unit down.

“Cues from Asia remained feeble as monies in the continent were feeble from the US dollar this morning,” Reliance Securities said in a research note.

The dollar index, which gauges the greenback’s energy from a basket of six currencies, also climbed 0.04 per cent to 96.11.

On the domestic equity market , the 30-share BSE benchmark Sensex was trading 282.22 points higher at 36,334.03 and wider NSE Nifty increased 60.20 points into 10,678.40.

Australian institutional investors were net sellers in the funds market as they offloaded stocks worth 221.70 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil standard, dropped 0.62 percent to USD 43.52 per barrel.

Meanwhile, the amount of cases around the world connected to COVID-19 has spanned 1.35 crore along with the death toll has topped 5.83 lakh.